Economy

Thursday, June 19th 2008 - 21:00 UTC
Lula and top aides in financial summit to curb inflation

Brazilian President Lula da Silva, cabinet ministers and his main economic advisors are considering a range of measures, (from budget cuts to pruning credit) with the purpose of curbing inflation according to Folha de Sao Paulo
Thursday, June 19th 2008 - 21:00 UTC
Roughly 60% Chileans in debt; 80% overspends

Roughly 60% of the Chilean population is in debt, according to a study published this week by the country's Central Bank. And perhaps surprisingly, middle class Chileans account for about 67% of the debt.
Thursday, June 19th 2008 - 21:00 UTC
US drivers making less mileage for sixth month running

At a time of record-high gasoline prices and a corresponding surge in transit ridership, US citizens are driving less for the sixth month in a row, highlighting the need to find a more sustainable and effective way to fund highway construction and maintenance, said United States Transportation Secretary Mary E. Peters.
Thursday, June 19th 2008 - 21:00 UTC
Argentina honoring contracts with soy from Paraguay

Argentina is only shipping soybeans from Paraguay in an attempt to honor overseas contracts since no local supplies are arriving to export ports because of the 100-day farmers' stand off with the administration of President Cristina Fernandez de Kirchner.
Wednesday, June 18th 2008 - 21:00 UTC
Quarter point hike in Euro rate almost certain next July

European Central Bank Executive Board member Juergen Stark said the acceleration in Euro zone inflation to 3.7% in May, the highest rate recorded since the launch of the Euro is a cause for alarm.
Tuesday, June 17th 2008 - 21:00 UTC
Bank of England and Chancellor confirm higher UK inflation

Bank of England Governor Mervyn King has warned that inflation could rise above 4% this year as oil and energy prices soar. In an open letter to the Chancellor after official inflation hit 3.3%, Mr King said he had revised previous forecasts upwards due to a 15% rise in oil prices during the past month and the prospect of higher gas and electricity bills.
Tuesday, June 17th 2008 - 21:00 UTC
Lula da Silva and top banker determined to stop inflation

Brazilian President Lula da Silva and the country's top banker said fighting inflation remains a top priority, the latest warning against surging consumer prices. Speaking to an audience of investors at the Sao Paulo stock exchange, Lula da Silva said the government is determined to stop short-term inflation pressures from becoming permanent.
Tuesday, June 17th 2008 - 21:00 UTC
US Producer prices climb 1.4% in May, 7.2% in 12 months

Producer prices in United States jumped by more than expected in May pushed higher by the soaring fuel and food prices, according to the latest release from the US Labor Department.
Tuesday, June 17th 2008 - 21:00 UTC
Greater regulation for “speculation” in US and UK oil futures

The United States Commodity Futures Trading Commission and its United Kingdom counterpart reached a deal with ICE Futures Europe to impose regulations on West Texas Intermediate oil contracts that trade on the London-based electronic exchange within 120 days, CFTC chairman told the US Senate.
Tuesday, June 17th 2008 - 21:00 UTC
Argentines' inflation expectations for next 12 months: 34.7%

Argentines expect consumer prices to increase on average 34.7% in the coming twelve months, which is slightly lower than the previous report, according to the latest release from the Finance Research Center belonging to the Torcuato Di Tella Univeristy.